What is the best product for day trading futures NQ , YM or ES?:

[pauloboss]

I have had nothing but losses day trading the NQ, and YM my problem is that I am always getting stopped out and every time I wide my stops I still get stopped out or end up just being in the wrong direction of the market for a loss.

My strategy.
3 trades per day
1 to 2% risk per trade
reward 3 to 1
1 contract at the time
Indicators I use
daily, 30 minutes, 5 minutes charts
Volume profile ( breaking out of the point of control for entries , high and low lines for exits)
4 indicator to see where the market is heading
The breadth indicator
The advance decline line
The tick
The vix
Risk on NQ 3 points
Risk on YM 12 points
Trade after 1 hour of the opening
I watch the economic calendar to have an idea if we are having any news not to trade doing this hours

Should I trade another product or what am I doing wrong.? Thank you very much for your help !!!

 

[Robert Morse]

Trade after 1 hour of the opening

What is the reason for this?

day trading the NQ, and YM

Why these two? Why not stick to one or scan many futures and include Gold, Silver or WTI, whatever has the best set up?

3 trades per day

How did you pick this number? -What if there are more or less set ups? What if a day presents no opportunities?

 

[Turveyd]

Likely issue taken me for ever to sort, is market is going up, market pulls back a few pts say, you then think, I'll join the up, but that few pts down isn't a pull back it's the start of a trend reversal then down it goes and you've got another annoying loss.

The main issue is, your too hesitant to join on the way up / worried, so what you need to do is get on the up move early on, not wait for it to put in a up move to confirm then expect it to put in more of an up move basically.

Big SL or small won't matter it'll get hit so go small, incase your early entry with momo turns on you, not too tight, tis a fine fine art.

 

[Gotcha]

I have had nothing but losses day trading the NQ, and YM my problem is that I am always getting stopped out and every time I wide my stops I still get stopped out or end up just being in the wrong direction of the market for a loss.

My strategy.
3 trades per day
1 to 2% risk per trade
reward 3 to 1
1 contract at the time
Indicators I use
daily, 30 minutes, 5 minutes charts
Volume profile ( breaking out of the point of control for entries , high and low lines for exits)
4 indicator to see where the market is heading
The breadth indicator
The advance decline line
The tick
The vix
Risk on NQ 3 points
Risk on YM 12 points
Trade after 1 hour of the opening
I watch the economic calendar to have an idea if we are having any news not to trade doing this hours

Should I trade another product or what am I doing wrong.? Thank you very much for your help !!!

First, I'm not sure how much I believe this post, but lets leave this aside for now. The fact that you say you never win is highly suspect. If every single time the market goes against when you enter, it would be far too easy to just do the opposite every time.

If this post is truly genuine, please post a few charts with your trades. Its impossible to say what you are doing wrong until we can see what you're actually doing.

 

[Handle123]

I have had nothing but losses day trading the NQ, and YM my problem is that I am always getting stopped out and every time I wide my stops I still get stopped out or end up just being in the wrong direction of the market for a loss.

My strategy.
3 trades per day
1 to 2% risk per trade
reward 3 to 1
1 contract at the time
Indicators I use
daily, 30 minutes, 5 minutes charts
Volume profile ( breaking out of the point of control for entries , high and low lines for exits)
4 indicator to see where the market is heading
The breadth indicator
The advance decline line
The tick
The vix
Risk on NQ 3 points
Risk on YM 12 points
Trade after 1 hour of the opening
I watch the economic calendar to have an idea if we are having any news not to trade doing this hours

Should I trade another product or what am I doing wrong.? Thank you very much for your help !!!

Unless you can breath your system, knowing what every indicator should do when price makes moves, you have a useless indicator, where you are looking for is when price goes one way and indicator doesn't. You have to back test a great deal, best is learn to program. You make no comments on chart patterns or reading charts or for that matter definition of trend. Breaking out of POC means nothing unless you are with the trend. Personally, I never enjoyed Volume Profile much, I know a few are very good with it, But I am not. To me the Tick never has low enough losing percentages to use it and vix is rather after the fact. I generally use $100-125 risk in any market cept coffee and other big range markets.

You need to study distance of swings by the hour, then study waves within the swings, so you can have a general idea of where price is to what is happening right now.

I am more of a Scalper, so I trade first hour and done, has most volume. Make 4-6 points in ES based on one lot, pile on size when you understand what you doing.

You need to sim trade, take $5k and you have to triple it three separate times and make it as real life as possible, when you can do all this, then try real time, otherwise you end up being shark's bait.

 

[Jack_Larkin]

This seems backwards.. why are you trying to fit an instrument/security into your rules? Shouldn't you be trying to study an instrument to trade and use rules to help you capture profit off your observations?

Cart before the horse.

 

[pauloboss]

First, I'm not sure how much I believe this post, but lets leave this aside for now. The fact that you say you never win is highly suspect. If every single time the market goes against when you enter, it would be far too easy to just do the opposite every time.

If this post is truly genuine, please post a few charts with your trades. Its impossible to say what you are doing wrong until we can see what you're actually doing.

 

[pauloboss]

What is the reason for this?


Why these two? Why not stick to one or scan many futures and include Gold, Silver or WTI, whatever has the best set up?


How did you pick this number? -What if there are more or less set ups? What if a day presents no opportunities?

Thank you for your response. After doing an intense research and looking for what could be reasonable to trade with my account size. Also as you might now when you are doing research this are the first instruments that traders talk about. I use the 3 instrument because from what I learned when I did my study is that 3 of them combine can give you a better picture if is a range or a trend day. Now if you were new trader with an small account what would you trade and why?

This seems backwards.. why are you trying to fit an instrument/security into your rules? Shouldn't you be trying to study an instrument to trade and use rules to help you capture profit off your observations?

Cart before the horse.

What is the reason for this?


Why these two? Why not stick to one or scan many futures and include Gold, Silver or WTI, whatever has the best set up?


How did you pick this number? -What if there are more or less set ups? What if a day presents no opportunities?

 

[pauloboss]

Unless you can breath your system, knowing what every indicator should do when price makes moves, you have a useless indicator, where you are looking for is when price goes one way and indicator doesn't. You have to back test a great deal, best is learn to program. You make no comments on chart patterns or reading charts or for that matter definition of trend. Breaking out of POC means nothing unless you are with the trend. Personally, I never enjoyed Volume Profile much, I know a few are very good with it, But I am not. To me the Tick never has low enough losing percentages to use it and vix is rather after the fact. I generally use $100-125 risk in any market cept coffee and other big range markets.

You need to study distance of swings by the hour, then study waves within the swings, so you can have a general idea of where price is to what is happening right now.

I am more of a Scalper, so I trade first hour and done, has most volume. Make 4-6 points in ES based on one lot, pile on size when you understand what you doing.

You need to sim trade, take $5k and you have to triple it three separate times and make it as real life as possible, when you can do all this, then try real time, otherwise you end up being shark's bait.

I consider more of a discretionary trader,As far as chart patters I like to get on pull backs when is a trend day and a when is a range day try to buy the low and sell the top of the range day. But I am always getting stopped out. The more I wide my stops the more it happens. I do get some winners but nothing in correlation to my loosing trades.

 

[pauloboss]

I am really sorry about not being able to explain my self well. As you can tell English is my second language

Likely issue taken me for ever to sort, is market is going up, market pulls back a few pts say, you then think, I'll join the up, but that few pts down isn't a pull back it's the start of a trend reversal then down it goes and you've got another annoying loss.

The main issue is, your too hesitant to join on the way up / worried, so what you need to do is get on the up move early on, not wait for it to put in a up move to confirm then expect it to put in more of an up move basically.

Big SL or small won't matter it'll get hit so go small, incase your early entry with momo turns on you, not too tight, tis a fine fine art.

Yes after you saying this I think this might be part of the problem. Also the NQ at time is just jumping all over the place and I guess im getting caught in the noise. thank you for your response !
and